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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1336 Hansel Ave Florence, KY 41042-4893

    • Outlet malls
    • 99,720 SF
    • 8.20 lot acres
    OFF-MARKET
    Last Sale
    Apr 01, 2025
    $12,597,552
    Value Estimations
    $13,915,000
    Show details
    Cap Rate Potential
    8.9%
    Outlet malls
    Location Intelligence
    Property ID
    US34-0527132
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Turfway Crossing / Sporting Goods Store
    • Arhaus The Loft / Furniture Store
    • DICK'S Sporting Goods / Sporting Goods Store / Clothing Store

    Property Details for 1336 Hansel Ave

    Year built
    2001
    Lot size
    8.20 lot acres
    Property size
    99,720 SF
    Property type
    Outlet malls
    APN
    061.00-00-016.00
    APU
    61000001600

    Description

    Turfway Crossing, located at 1336 Hansel Ave in Florence, Kentucky (zip code 41042), presents a prime retail and restaurant opportunity. This multi-tenant strip center boasts a total of 99,578 square feet of building space, currently featuring 5,000 square feet of immediately available space for lease. The property is situated in Boone County, Kentucky, benefiting from excellent visibility and accessibility within a thriving commercial area. The available space is ideal for a variety of retail or restaurant concepts, offering significant potential for growth and success. The property's location provides convenient access for customers and employees alike, with ample parking readily available. This is a rare opportunity to secure a substantial space within an established and successful retail center in a high-demand location. The building is well-maintained and offers a modern aesthetic, making it an attractive option for businesses seeking a professional and inviting environment. Interested parties are encouraged to inquire promptly to secure this exceptional leasing opportunity. The property is classified as a retail and restaurant space within a commercial strip center. The available space totals 5,000 square feet.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $13,515,000
      ML approach
      $8,800,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $20,060,000
      6.5%
      $18,520,000
      7%
      $17,195,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $11,706,000
      Market price range: $6.76M - $21.6M
      AI Estimate
      $8,689,000
      Market price range: $3.66M - $15.7M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $12,260,000
      Current use
      COMMERCIAL (GENERAL)
      $18,665,000
      Change: +52% Conversion: Easy
      OFFICE BUILDING
      $13,220,000
      Change: +8% Conversion: Easy
      WAREHOUSE, STORAGE
      $12,525,000
      Change: +2% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Florence
    County
    Boone
    State
    Kentucky
    Longitude
    -84.6374
    Latitude
    39.0183
    CBSA code
    17140
    CBSA name
    CINCINNATI-MIDDLETOWN, OH-KY-IN METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $101,796
    $2,500,000
    $8,271,100
    $10,771,100
    -
    $2,500,000
    $8,271,100
    $10,771,100

    Comparable in this City

    • Value Estimation
      $985,000
      20.99 Acres

      4800 Houston Rd

      WHOLESALE OUTLET, DISCOUNT STORE • 20.99 Acres
      4800 Houston Rd, Florence, KY 41042-1363
      View Details
    • Value Estimation by Request

      7657 Mall Rd

      WHOLESALE OUTLET, DISCOUNT STORE
      7657 Mall Rd, Florence, KY 41042-1403
      View Details
    • Value Estimation
      $795,000
      5.64 Acres

      7102 Turfway Rd

      WHOLESALE OUTLET, DISCOUNT STORE • 5.64 Acres
      7102 Turfway Rd, Florence, KY 41042-2002
      View Details
    • Value Estimation
      $945,000
      16.92 Acres

      7800 Connector Dr

      WHOLESALE OUTLET, DISCOUNT STORE • 16.92 Acres
      7800 Connector Dr, Florence, KY 41042-1435
      View Details
    • Value Estimation
      $1,315,000
      130,416 SF

      1100 Hansel Ave

      WHOLESALE OUTLET, DISCOUNT STORE • 130,416 SF
      1100 Hansel Ave, Florence, KY 41042-4869
      View Details
    • Value Estimation
      $930,000
      18,232 SF

      6805 Houston Rd

      WHOLESALE OUTLET, DISCOUNT STORE • 18,232 SF
      6805 Houston Rd, Florence, KY 41042-5133
      View Details

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      9,590 SF

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      Prime NKY Retail Space, High Visibility
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    Similar Nearby for Lease

    • Contact for pricing
      963,727 SF

      Florence Mall Retail Space

      Kentucky Shopping Mall - Lease Options
      2028 Florence Mall, Florence, KY 41042
      View Details
    • Contact for pricing
      3,000 SF

      Retail Space Near Florence Mall

      Retail space available in high-traffic shopping center near Florence Mall.
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      View Details
    • Contact for pricing
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      Retail Space Near Florence Mall

      Retail space available in high-traffic shopping center near Florence Mall.
      7607-7629 Mall Rd, Florence, KY 41042
      View Details
    • Contact for pricing
      154,305 SF

      Retail Space in Florence, KY

      Retail property with high visibility in Florence, Kentucky.
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      View Details
    • Contact for pricing
      1,982 SF

      Retail Space Near Florence Mall

      Retail space across from Florence Mall, anchored by Kroger Marketplace.
      7753 Mall Rd, Florence, KY 41042
      View Details
    • $38 SF/Yr
      2,600 SF

      Restaurant Endcap on Houston Road

      Former restaurant space with high visibility in active retail corridor.
      4960 Houston Rd, Florence, KY 41042
      View Details
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    1336 Hansel Ave
    Florence, KY 41042-4893
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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